Newton Golf raises additional $850k through convertible notes and warrants

Newton Golf Company, Inc.

• Second closing Apr 7: $500k note + 50k warrants; third and fourth closings Apr 9: $100k and $250k notes + 10k and 25k warrants.
• Convertible Notes: 10% PIK interest, 18-month maturity, convertible at $1.60/share; Warrants exercisable at $1.75/share for 5 years.
• Combined with $500k from March 16 closing, total raised $1.35M of $2M maximum; purchasers are entities affiliated with director Brett Hoge.
• Company granted piggyback registration rights for resale of conversion shares and warrant shares; private placement under Rule 506(b).